The digital transformation in logistics is taking its time but the lack of some digital tools is driving investment down. However, there is more interest than ever in the industry and the supply chain should get ready. We spoke to Luke Tuttle, General Manager, North America and Trade Management Services, at MODIFI about investment, predictions for 2023 and more. You can watch the full interview now at the bottom.
‘Many people are expecting a recession going into 2023, even if it is a small one,’ says Luke Tuttle. To adapt to these conditions, companies need to be proactive and more flexible. But logistics has a legacy system and is very asset heavy. This is one of the reasons why investment in the sector has been a bit slow, compared to others.
‘Without having the financing, companies are not able to do more sales and open to new markets,’ Tuttle explains. There is a large gap between the abilities of large players and SMEs. MODIFI is working on bridging this by offering more support to SMEs that need financing. For Tuttle one of the reasons why the industry has lagged behind is because technology has not been always easily embraced. There is a lack of transparency and flexibility.
He is, however, optimistic, as logistics is now attracting more financing and this will lead to more in the future. ‘So I think it’s a matter of the continued application of technology,’ he comments.
Startups have more flexibility and could possibly provide the solutions. This in turn will make larger players better at what they do.
You can watch the full interview with Luke Tuttle, General Manager, North America and Trade Management Services, at MODIFI now. ✷